For everyone but newly wealthy associates, the question is: How are the biggest law firms going to pay for those salary raises? The latest large firm to face that question is Cooley Godward Kronish, which announced Thursday that associates nationwide would join their New York colleagues on the $160,000 scale. Mark Pitchford, chief operating officer at 580-lawyer Cooley, said before the Thursday announcement, but after the prior round of raises, that the firm would not pass the costs of raises to clients.
May 14, 2007 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
For everyone but the newly wealthy associates, the question is: How are the biggest law firms going to pay for their latest round of associate salary raises?
While clients expect that they’ll be footing most of the bill, several Am Law 100 firms say they won’t be tying rate hikes or hours expectations to the raises, which saw first-year pay in California jump twice in recent months — first to $145,000 and now to $160,000 at some of the largest firms.
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